Avanza Fonder AB Makes New $2.61 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Avanza Fonder AB purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 69,951 shares of the company’s stock, valued at approximately $2,606,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its stake in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the last quarter. State Street Corp boosted its holdings in Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC grew its position in shares of Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after purchasing an additional 1,137,677 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Robinhood Markets by 20.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,481,794 shares of the company’s stock worth $104,964,000 after purchasing an additional 769,281 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 4.5 %

Shares of HOOD opened at $48.15 on Friday. The company has a 50-day moving average price of $38.63 and a two-hundred day moving average price of $28.18. The stock has a market cap of $42.56 billion, a price-to-earnings ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07. Robinhood Markets, Inc. has a 12 month low of $10.38 and a 12 month high of $49.27.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) EPS. Equities research analysts expect that Robinhood Markets, Inc. will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. KeyCorp raised their target price on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Barclays raised their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and upped their target price for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Citigroup boosted their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $43.07.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares in the company, valued at $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,700,658 shares of company stock valued at $140,360,682. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.